Underwritten Income Reconciliation Process definition

Underwritten Income Reconciliation Process means, in respect of any determination of Underwritten Gross Income, the process pursuant to which the amount calculated by the Diligence Agent pursuant to clause (ii) of the definition of “Underwritten Gross Income” is adjusted in accordance with the terms hereof (each such amount is referred to herein as the “Estimated Annual Rental Income”). The Estimated Annual Rental Income in respect of any Property may be adjusted if such amount is not reasonably acceptable to the Administrative Agent, the Thirty-Three Percent Lenders or the Borrower Representative (the “objecting party”), as applicable, and the objecting party notifies (such notification, a “estimated rental income redetermination request”) the Borrower Representative and/or the Administrative Agent (the “non-objecting party”), as the case may be, by no later than within ten (10) Business Days of funding of a related Property Loan; provided that if the objecting party is the Thirty-Three Percent Lenders, such notice shall be given in accordance with Section 10.20. Following the delivery of such rental income determination request, the Administrative Agent shall request that the Diligence Agent reconsider its determination of the Estimated Annual Rental Income, including by obtaining new estimated market rental payments from a different third-party provider. The objecting party shall be provided the opportunity to deliver additional information, including annual rental payments in respect of comparable homes or other evidence of annual rental payments or a broker price opinion from an independent third party, to the non-objecting parties in connection with any such reconsideration, and the Administrative Agent shall forward such additional information to the Diligence Agent. Any revised Estimated Annual Rental Income determined by the Diligence Agent shall be submitted to the Administrative Agent, the Calculation Agent and the Borrower Representative.
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Related to Underwritten Income Reconciliation Process

  • Underwritten Net Cash Flow means, as of any date of determination, the excess of: (i) for the twelve (12) month period ending on such date, the sum of (A) the lesser of (1) GPR multiplied by 94.0%, and (2) Actual Rent Collections, and (B) Other Receipts; over (ii) for the twelve (12) month period ending on such date, the sum of (A) Operating Expenses, adjusted to reflect exclusion of amounts representing non-recurring expenses, (B) Underwritten Capital Expenditures and (C)

  • Reconciliation Period is each calendar month.

  • Reconciliation Date means the last calendar day of each Reconciliation Period.

  • Reconciliation means coordination of premium tax credit with advance payments of premium tax credit (APTC), as described in Section 36B(f) of IRC (26 USC § 36B(f)) and 26 CFR Section 1.36B-4(a).

  • Reconciliation Amount has the meaning given to it in paragraph 9.9 of Schedule 9.1 (Financial and Other Consequences of Change);

  • Reconciliation Procedures means those procedures set forth in Section 7.09 of this Agreement.

  • Reconciliation Report refers to the Reconciliation Report as referenced in s. 3 of Reg 264/07 under LHSIA.

  • CMSA Historical Liquidation Report means a report substantially in the form of, and containing the information called for in, the downloadable form of the "Historical Liquidation Report" available as of the Closing Date on the CMSA Website, or such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CMSA for commercial mortgage securities transactions generally.

  • CREFC® Interest Shortfall Reconciliation Template A report substantially in the form of, and containing the information called for in, the downloadable form of the “Interest Shortfall Reconciliation Template” available as of the Closing Date on the CREFC® Website, or such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CREFC® for commercial mortgage securities transactions generally.

  • Investment Capital Expenditures means capital expenditures other than Maintenance Capital Expenditures and Expansion Capital Expenditures.

  • Non-Lead Securitization Determination Date means the “determination date” (or any term substantially similar thereto) as defined in the related Non-Lead Securitization Servicing Agreement.

  • Independent Assets or Operations means, with respect to any such parent company, that such parent company’s total assets, revenues, income from continuing operations before income taxes and cash flows from operating activities (excluding in each case amounts related to its investment in the Issuer and the Restricted Subsidiaries), determined in accordance with GAAP and as shown on the most recent balance sheet of such parent company, is more than 3.0% of such parent company’s corresponding consolidated amount.

  • CREFC® Advance Recovery Report A monthly report substantially in the form of, and containing the information called for in, the downloadable form of the “Advance Recovery Report” available as of the Closing Date on the CREFC® Website, or such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CREFC® for commercial mortgage securities transactions generally.

  • CREFC® REO Liquidation Report Template A report substantially in the form of, and containing the information called for in, the downloadable form of the “REO Liquidation Report Template” available as of the Closing Date on the CREFC® Website, or such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CREFC® for commercial mortgage securities transactions generally.

  • CMSA Operating Statement Analysis Report means a report substantially in the form of, and containing the information called for in, the downloadable form of the "Operating Statement Analysis Report" available as of the Closing Date on the CMSA Website or in such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CMSA for commercial mortgage-backed securities transactions generally.

  • CREFC® Operating Statement Analysis Report The monthly report in the “Operating Statement Analysis Report” format substantially in the form of and containing the information called for therein for the Mortgage Loans, or such other form for the presentation of such information as may be approved from time to time by the CREFC® for commercial mortgage securities transactions generally.

  • Financial Contribution means a contribution from an implementing partner in the form of own risk-taking capacity that is provided on a pari passu basis with the EU guarantee or in another form that allows an efficient implementation of the InvestEU Programme while ensuring appropriate alignment of interest;